NCDMB’s fund pushes for women’s competitiveness in oil, gas
By Elo Edremoda, Warri Nigeria’s push to strengthen its position in the global oil and gas market gained fresh momentum as the Nigerian Content Development and Monitoring Board (NCDMB) unveiled
By Elo Edremoda, Warri
Nigeria’s push to strengthen its position in the global oil and gas market gained fresh momentum as the Nigerian Content Development and Monitoring Board (NCDMB) unveiled a new compliance portal yesterday. The launch held alongside renewed calls to expand women’s participation and access to dedicated funding in the sector.
At a stakeholders’ forum in Effurun, Delta State, the Board introduced the Nigerian Content Fund Compliance Certificate (NCFCC) Portal—an initiative designed to fast-track compliance, improve transparency, and enhance investor confidence.
Representing the Director of Finance and Personnel Management, Ossaowa Uchendu, the Manager, Finance and Accounts, Desmond Awumade, described the platform as a critical step toward aligning Nigeria’s oil and gas industry with global standards.
“This launch is not just about technology. It is about aligning with the national vision for ease of doing business, digital transformation, and accountability.”
“It is a bold step toward efficiency, transparency, and global competitiveness in Nigeria’s oil and gas industry,” Uchendu said.
He explained that the compliance certificate, mandatory for operators remitting one per cent of upstream contract values into the Nigerian Content Development Fund (NCDF), is now fully digitised.
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“The certificate is the key that unlocks access to the Fund and assures that obligations are being met in line with national development goals,” he said.
According to him, the portal will cut processing timelines from weeks to days, enable real-time verification, and eliminate paperwork bottlenecks that previously slowed investments and project approvals.
The Director noted that reforms in the sector are already yielding results, with Nigerian content exceeding 60 per cent and over $400 million disbursed to more than 130 indigenous firms.
Beyond digital reforms, stakeholders stressed that achieving true global competitiveness would require deeper inclusion, particularly increased participation by women in the oil and gas value chain.
Speaking on financing opportunities, Mohammed Awami of the Nigerian Export-Import Bank (NEXIM) revealed that a $50 million facility exists for the sector, with $20 million specifically earmarked for women-owned businesses in the oil and gas industry.
“Out of 77 applications received so far, less than three per cent of the Women in Oil and Gas Intervention Fund has been accessed,” he said, describing the low uptake as a major concern.
During a panel session, Awami urged targeted capacity-building programmes to bridge the gap between available funding and actual utilisation, noting the need for “deliberate engagement” to bring women-led businesses into the system.
He also advocated policy-backed inclusion stating: “There should be a deliberate policy to reserve at least 25 per cent of contracts to drive women participation.”
The event also highlighted financing partnerships with institutions such as the Bank of Industry, which has expanded its joint funding support with NCDMB from $200 million to $300 million, with dozens of beneficiaries already supported.
Head of Bank of Industry, Oil and Gas Group, Gabriel Yemidale, represented by Oladupo Adebanjo, reeled out financing opportunities with the Nigerian Content Intervention Fund birthed via the bank’s collaboration with the NCDMB
Encouraging industry players to apply for the fund which is to the tune of $300 million, he listed assets acquisition, contract finance, refinancing and manufacturing as areas beneficiaries can proces with the funds.
Industry players echoed the call, noting that equal access to financing and opportunities for women would significantly boost innovation, productivity, and competitiveness across the sector.
Other stakeholders, including NCDMB’s Babatunde Akhihiero, emphasised that sustained capacity development remained central to preserving gains in local content.
“Without capacity development, there is no way we can sustain the progress made in Nigerian Content,” he said.
